Texas § 122.061 CONFLICTS OF INTEREST.

Texas Statutes

§ 122.061 — CONFLICTS OF INTEREST.

Texas § 122.061

Code FIFinance Code

This text of Texas § 122.061 (CONFLICTS OF INTEREST.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 122.061 (2026).

Text

Sec. 122.061. CONFLICTS OF INTEREST.

(a)While serving as a director, honorary director, advisory director, committee member, officer, or employee of a credit union, a person may not:

(1)participate, directly or indirectly, in the deliberation on or determination of a question affecting the person's pecuniary interest or the pecuniary interest of a member of the person's immediate family or of a partnership, association, or corporation, other than the credit union, in which the person is directly or indirectly interested; or

(2)become employed by, engage in, or own an interest in a business or professional activity that the person could reasonably expect to:

(A)require or induce the person to disclose confidential information acquired because of the person's office or employment in the

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 122.061. CONFLICTS OF INTEREST. (a) While serving as a director, honorary director, advisory director, committee member, officer, or employee of a credit union, a person may not:
(1) participate, directly or indirectly, in the deliberation on or determination of a question affecting the person's pecuniary interest or the pecuniary interest of a member of the person's immediate family or of a partnership, association, or corporation, other than the credit union, in which the person is directly or indirectly interested; or
(2) become employed by, engage in, or own an interest in a business or professional activity that the person could reasonably expect to:
(A) require or induce the person to disclose confidential information acquired because of the person's office or employment in the credit union; or
(B) impair the person's independence or judgment in the performance of the person's duties or responsibilities to the credit union.
(b) An interest only as a member of the credit union that is shared in common with all other members is not a pecuniary interest within the meaning of Subsection (a)(1).
(c) In this section, "member of a person's immediate family" means a person's spouse or another person living in the person's household.

Legislative History

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244 ), Sec. 11, eff. September 1, 2013.